Mergers and acquisitions: do the shareholders of the target firm gain when the merger is equity financed?

Cave, Jennifer (2007) Mergers and acquisitions: do the shareholders of the target firm gain when the merger is equity financed? BA dissertation, University of Portsmouth.

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    Abstract

    The aim of this dissertation is to provide an overview of mergers and acquisitions, including definitions, the various types, recent examples and possible motives; before examining the use of SFD database to collect abnormal growth over time and relating this to the affect the merger and acquisition has on shareholder wealth, with the focus on target firms of an equity financed merger. Due to unexpected results, further research was conducted looking at cash financed mergers and acquisitions. This tallied more with the existing research, including Agrawal and Jensen and Ruback, which states that target companies do indeed experience positive abnormal returns from M&A activity.

    Item Type: Dissertation
    Departments/Research Groups: Portsmouth Business School > Accounting and Financial Management
    Depositing User: Jane Polwin
    Date Deposited: 20 Jan 2011 12:48
    Last Modified: 28 Jan 2015 11:14
    URI: http://eprints.port.ac.uk/id/eprint/418

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